Global Crypto Offering Exchange (GCOX), a Singaporean startup has announced plans to launch a Manny Pacquiao’s cryptocurrency. According to reports, the crypto-coin will be backed by celebrity’s fame and popularity. The launch is scheduled to happen by the end of this year or in the first quarter of 2019.
More Celebrity-based Crypto Tokens
GCOX has built a blockchain powered platform where different celebrities can tokenize their popularity. The startup has several platforms constructed on its Acclaim blockchain including Celeb-Connect and Celeb-Charity. Both platforms will serve as avenues where fans will get to interact with celebrities closely.
Manny Pacquiao is a boxing legend in the Philippines where he currently serves as a senator. He signed up with the startup in March 2018.
According to Staitstimes, the blockchain powered platform plans to launch the “Pac Tokens” soon. The company wants to launch the token by the end of the year or at the beginning of 2019. GCOX is targeting this period as they believe the Philippine SEC will have finalized official regulation of ICOs in the country.
Also, the platform is working with other celebrities in a bid to launch tokens similar to Pacquiao’s cryptocurrency—including Jason Derulo and Michael Owen.
After launch, fans will have the chance to use the Pac Tokens to purchase Manny’s merchandise. The goods include gloves and boxing jackets.
However, the startup is still in negotiations with Pacquiao’s team on the value and volume of the tokens that will be included in the initial offering.
GCOX will employ a celebrity token ecosystem that is built on the Acclaim blockchain. The platform will use the Acclaim Token (ACM) as its base currency. And since the celebrity tokens are restricted to each celebrity’s framework, fans will use the ACM as a medium of exchange between different celebrity frameworks.
Manny Pacquiao and Michael Owen are also listed as private investors with the company. Other notable investors include; H.H Sheik Khaled Bin Zayed Al Nahyan, the founder and chairman of the Bin Zayed Group.
In conclusion, Pacquiao and Owen seem to be following in the footsteps of other celebrity athletes who this year have involved themselves with crypto and the blockchain technology. Will Pacquiao’s cryptocurrency perform any differently?
Earlier this year, former Barcelona stars Charles Puyol and Andreas Iniesta launched Olyseum, a blockchain powered platform that will allow fans to interact with star players.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.
